Here are the details from Praemium's fee change. Because of these changes, Nucleus is transitioning sub $200,000 clients to other platforms.
Please contact us if you have any concerns.
What's changing? |
| The following changes will be effective on 1 April 2024 and updates will be reflected in both the SMA and SuperSMA Product Disclosure Statements |
| Fees and other costs |
Current Charge |
Effective 1 April 2024 |
| Transaction costs |
Brokerage charge 0.055% Settlement fee $0.87 |
Brokerage charge 0.099% Settlement fee $0.55. |
| Expense Recovery Fee |
Up to $100 per annum |
Up to $150 per annum. |
| Fund Accounting Fee |
$12 per month Not applicable for SMA |
$16 per month in SuperSMA. The name of the fee will change to Account Keeping fee. $8 per month in SMA |
| Administration Fee |
0.00% for balances of $1,000,001 - $2,500,000 |
0.04% for balances of $1,000,001 - $2,500,000 $15 per month minimum administration fee on all accounts. |
| Cash Administration Fee |
1.30% |
1.40% |
| Foreign exchange margin |
Praemium executes foreign exchange trades using an auto-FX product provided by the custodian and passes through the 0.15% margin to investors. |
Praemium will manage foreign exchange trades internally to achieve more favourable pricing. A margin of 0.20% will be applied to executed trades. |
| Managed Fund Buy/Sell netting |
Praemium nets managed fund orders and applies the executed price to both buyers and sellers |
Praemium will continue to net managed fund orders and ensure that buyers and sellers receive the quoted fund entry and exit prices. Any netting efficiencies will be retained by Praemium. |
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| All fees shown in this document are GST inclusive where applicable. |
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